Veronafiere: Group revenue up to 125.5 million euros in 2024. Best financial statement ever: profits +150% and EBITDA +16%
2024 posted the best balance sheet ever in the history of Veronafiere, at both Group level and for the Parent Company. The results – approved by the Board of Directors and then also unanimously passed by the Veronafiere AGM – confirm the full relaunch of trade fair operations and the effectiveness of the new strategic trajectory initiated with the Veronafiere ONE Plan 2024-2026.
Consolidated revenues for the Group came to 125.5 million euros, posting an increase of 5 million compared to 120.5 millions in the 2023 financial year. EBITDA came to 25.8 million euros, up by 3.5 millions from 22.3 millions for the previous year, posting a percentage growth of 15.7%.
The net result for the Group as of 31 December 2024 highlights a profit of 9.5 million euros compared to 3.8 millions in the previous 2023 financial year, posting an increase of 150%.
The parent company Veronafiere S.p.A. also presented similarly significant results. Revenues came to 101.5 million euros, up by 7.7 millions from 93.8 millions in 2023, an increase of 7.8%. EBITDA came to 20 million euros, improving last year’s figure by 5.9 million, thereby posting growth of 37.3%. Net profit for the parent company stands at 9.2 million euros, almost four times more than the €2.3 million figure recorded in 2023.
As regards assets, management of working capital highlighted significant improvements in efficiency, with a reduction in trade receivables of €4.2 millions and other credits of €8.3 millions. Net financial debt (NFD) has significantly decreased, from -€17.9 million to -€6.4 million, with a NFD/EBITDA ratio of -0.25 (compared to -0.80 for the previous year), thereby confirming the progressive strengthening of the financial structure. Net worth increased by €4.8 million, from the combined effect of the operating result and the increase in shareholdings in subsidiary companies.
These record results reflect the impressive calendar of events organized by Veronafiere in 2024: 45 events in all, of which 35 in Italy and 10 abroad in Brazil, China, Kazakhstan, Serbia and the United States of America. The Exhibition Centre attracted 861,090 visitors and 11,867 exhibitors for a net exhibition area of 623,272 square metres. 342 congress events were also held, involving total attendance by 62,900 operators.
“One of the most important results achieved in 2024 is having given new impetus to the international scope of Veronafiere and its products,” said Federico Bricolo, President of Veronafiere. “In October, we took the world of wine to Chicago with the first edition of Vinitaly.USA. At the same time, we began a new course in South America by transforming the historic Vitória Stone Fair into Marmomac Brazil staged in Sao Paulo. Furthermore, the strengthening of operating structures in Asia and Brazil further consolidated the global positioning of the Veronafiere brand. The Board of Directors and the operations structure at Veronafiere shared objectives over the course of a very intense year, which was made even more challenging by growing geopolitical instability. In this context, we began to develop the outlines of Veronafiere’s ONE strategic plan more effectively, posting the first concrete, important results in the first year itself”.
“The beacon guiding all our work is the Strategic Development Plan 2024-2026 approved at the end of 2023,” said Adolfo Rebughini, General Manager of Veronafiere. The goal was self-evident: valorise all Group companies under a single management umbrella, from the stand set-up business to those operating abroad, to create value in terms of turnover and market know-how in all the sectors covered by Veronafiere brand exhibitions through events in Italy and around the world. Outlines for growth are therefore moulded around on a business model where the human factor is the key for success and based on four pillars: sustainable growth of business in Italy itself, a structured international presence, development of a complete and competitive offering of services and stand set-up installations, using data to support business. These guidelines will be backed up by already activated and targeted action: corporate simplification, organisational redefinition with investments in people, technological and infrastructure intervention, and the adoption of integrated ESG policies at every level. This path towards evolution and growth in 2024 also saw the fundamental commitment by all employees in our Group who, with their expertise and passion, made a proud contribution towards reaffirming the decisive role Veronafiere and its products for promoting and supporting strategic Made in Italy supply chains throughout the world”.
“The three-year period 2022-2024,” explained CEO Maurizio Danese in outlining the mandate issued by the AGM, “saw Veronafiere follow a decision by the shareholders to complete a process of business and financial strengthening that redefined the governance model, consolidated accounts, relaunched our typical operations and implemented long-term strategic planning. We identified and appointed a General Manager, while macro-operational areas (B2B, B2C and Wine&Food) were redefined by upgrading marketing, communication and control functions. From an economic-financial standpoint, the mandate began with a complex financial situation and closed with full resumption of the Group’s solidity. Compared to a consolidated loss of 6.1 million euros in 2022, a profit of 3.9 million euros was posted in 2023, accompanied by 11.9% growth in revenue and an increase in EBITDA of 26.2%. 2024 continued to confirm this trajectory. In addition, a corporate reorganisation programme was implemented to rationalise the Group’s perimeter, with the incorporation of PMT, the disposal of VPE, Metef and Lems India and the reorganisation of Eurotend and Intex”.
Federico Bricolo, Adolfo Rebughini, Maurizio Danese